New Delhi
\nIndian shares posted broad-based declines on Friday, pressured by foreign fund outflows, and as global central banks took a hawkish stance and warned of surging inflation.
\nThe NSE Nifty 50 index (.NSEI) fell 1.53% to 16,985.20 and the benchmark S&P BSE Sensex (.BSESN) dropped 1.54% to 57,011.74. Both the indexes shed nearly 3% this week after two consecutive weeks of gains.
\n\u201cThe emergence of a new COVID-19 variant, Omicron, inflation concerns and a hawkish turn of global central bankers have led to an increase in volatility in equity markets worldwide, including India,\u201d said Shibani Kurian, head of equity research at Kotak Mahindra Asset Management Co.
\n\u201cWith inflation increasing in countries across the world, all eyes are on central bankers and the pace of liquidity normalisation adopted by them.\u201d
\nThis week, the Bank of England became the world\u2019s first major central bank to raise interest rates since the pandemic hammered the global economy, following the U.S. Federal Reserve in signalling the risk of raging inflation.
\nAs of Thursday\u2019s close, foreign institutional investors have sold $728 million worth of Indian equities this week and $1.73 billion this month, according to Refinitiv Eikon.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi Indian shares posted broad-based declines on Friday, pressured by foreign fund outflows, and as global central banks took a hawkish stance and warned of surging inflation. The NSE Nifty 50 index (.NSEI) fell 1.53% to 16,985.20 and the benchmark S&P BSE Sensex (.BSESN) dropped 1.54% to 57,011.74. Both the indexes shed nearly 3% […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-233845","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-world"},"yoast_head":"\n